Quick Answer: Which Of The Following Is The Largest Allocation In The Union Budget?

What is the largest item of expenditure?

Explanation: In 2019-20, the biggest item of government expenditure is Share of the states in taxes and fees.

The Central Government has to spend 23% of its total expenditure in the form of ‘taxes and fees’..

What was the theme of the Union Budget 2020 21?

The Union Budget for FY 2020-21 has been announced on 1 February, 2020, to herald a decade of growth and prosperity. Prominent themes of this Budget are its focus on governance and financial sector to enhance the ease of living.

What is disinvestment target?

For disinvestment, the government either sells stakes in public-sector units or lists them on the stock exchange. Last year, Finance Minister Arun Jaitley set a disinvestment target of Rs 72,000 crore, and the government has already crossed Rs 54,000 crore.

What is the largest item of expenditure in the Union Budget 2020?

Explanation: The largest item of expenditure in the Union Budget 2020-21 is ‘State’s share of taxes and duties’. This item accounts to 20% share of the total expenditure of the Central Government.

What is the total budget of India 2020 21?

Total expenditure in 2020-21 is expected to be Rs 30,42,230 crore, which is 12.7% higher than the revised estimate of 2019-20.

Who passed the budget in India?

The Union Budget is presented by the Union Finance Minister. The last Budget was presented by Nirmala Sitharaman. She will also present the next budget on February 1, 2020.

Who made Budget 2020?

Nirmala SitharamanSynopsis. The FM, Nirmala Sitharaman, on Saturday unveiled the budget for fiscal 2020-21, vowing to boost income of Indians and their purchasing power, in a bid to revive domestic economic growth that has slumped to lowest in decade.

How many times budget is presented in India in a year?

India Budget generally deals with the central government’s finances, its revenues and expenditures. The Union Budget presentation takes place once a year. However, in the year when Lok Sabha elections are due, two budgets are tabled in Parliament.

What are the changes brought to taxation by the Union Budget 2020 21?

i. The Union Budget 2020, proposes a new tax slab at which income-tax is to be levied for the assessment year 2020-2021 for individuals and HUFs….Income SlabIncome Tax Rate 2020-21Income Tax Rate 2019-20Rs 7.5 to Rs 10 lakh15%20%Rs 10 to Rs 12.5 lakh20%30%Rs 12.5 lakh to Rs 15 lakh25%30%3 more rows•Feb 18, 2020

Which of the following is NOT a non tax revenue?

Disinvestment is not a non tax revenue receipts. Non-tax revenue is defined as charged against services provided by the government. Disinvestment means to sell part of assets such as a manufacturing plant, a division or subsidiary or product line.

What are the main features of the latest Indian Union budget?

Presenting the Union Budget for 2020-21, Finance Minister Nirmala Sitharaman said, “In May 2019, Prime Minister Narendra Modi received a massive mandate to form the government again….IncomeTaxBetween ₹12.5 lakh to ₹15 lakhReduced to 25% from the current 30%Above ₹15 lakhContinue at 30%, but without exemptions3 more rows•Feb 1, 2020

How many budget are there in India?

Deshmukh have presented 7 budgets each while Manmohan Singh and T.T. Krishnamachari have presented 6 budgets.

What is the estimated social sector expenditure in Budget 2019 20?

Union Budget 2019-20 AnalysisActuals 2017-18Budgeted 2019-20Revenue Expenditure18,78,83324,47,780Capital Expenditure2,63,1403,38,569Total Expenditure21,41,97327,86,349Revenue Receipts14,35,23319,62,76111 more rows

Which is not in the themes of the Union Budget 2020 21?

Recently the Union Finance Minister has presented the Union Budget 2020-21 with the central theme of ease of living for all citizens, it is based on the following three prominent themes: Aspirational India – better standards of living with access to health, education and better jobs for all sections of the society.

Which is the No 1 state of India?

Uttar Pradesh has the 240,928 km2 of land. Sikkim is the least populus state in India….Uttar Pradesh is the largest state in India in terms of population.S. No.State NamePopulation (As per Census 2011)1Uttar Pradesh199,812,34126 more rows

What are the 3 types of budgets?

Depending on the feasibility of these estimates, Budgets are of three types — balanced budget, surplus budget and deficit budget.

Who is the father of budget in India?

P C MahalanobisThe first budget of India was submitted on 18 February 1860 by James Wilson. P C Mahalanobis is known as the father of Indian budget.

What is the budget allocation for the make in India in Union Budget 2020 21?

Rs 2.83 lakh crore (US$ 40.06 billion) to be allocated for the following 16 Action Points: Rs 1.60 lakh crore (US$ 22.64 billion) for Agriculture, Irrigation & allied activities….Union Budget 2020-21.Taxable Income Slab (Rs)Existing tax ratesNew tax ratesAbove 15 Lakh30306 more rows•Feb 1, 2020